inTEST Corporation (INTT), a provider of test and process technology solutions, Thursday reported net earnings of $495,000 or $0.04 per share for the third quarter, lower than $2.28 million or $0.19 per share in the same quarter a year ago, primarily impacted by decline in revenue as well as higher expenses.
Excluding one-time items, earnings were $1.22 million or $0.10 per share, that beat the analysts' average estimate of $0.07 per share. Analysts' estimates typically exclude special items.
Operating income was $487,000 down from $2.47 million last year.
Revenue for the quarter declined to $30.27 million from $30.94 million in the previous year. The consensus estimate was for $32.99 million.
For full-year, the company now expects revenue in the range of $128 million - $131 million, compared with the previous outlook of $128 million to $133 million. The Street is looking for revenue of $130.47 million for the year.
For the fourth quarter, revenue is expected between $34 million and $37 million. This compares with the analysts' view of $33.68 million.
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